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The global gas meter market was valued at US$ 4.1 Billion in 2022.
We expect the global gas meter market to exhibit a CAGR of 5.82% during 2023-2028.
The growing adoption of energy-saving systems, such as smart gas meters, owing to their various benefits, such as reducing the wastage of gas during transmission and distribution, is primarily driving the global gas meter market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary closure of numerous manufacturing units for gas meters.
Based on the type, the global gas meter market has been segmented into basic and smart. Currently, basic gas meters hold the majority of the total market share.
Based on the application, the global gas meter market can be divided into residential, commercial, and industrial. Among these, the residential sector accounts for the largest market share.
On a regional level, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where North America currently dominates the global market.
Some of the major players in the global gas meter market include Honeywell International Inc., Itron Inc., Apator SA, Diehl Stiftung & Co. KG, and Sensus Worldwide Holdings Limited.
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